Can I File For Bankruptcy More Than Once?

Though no one who has been through the grueling process of filing for bankruptcy would ever choose to go through it a second time, the fact is that sometimes people run into similar financial issues later in life and may need to file again to get back on their feet. Whether and when you can re-file depends a lot on the specific facts of your initial bankruptcy. For more information, keep reading.

Are there limits on filing for bankruptcy?

The good thing is that there are no limits on how many times a person can file for bankruptcy. However, and this is an important detail, there are limits on how often a person can file.

What if I filed for Chapter 13?

The law says that if you recently received a discharge from a Chapter 13 bankruptcy then you are not allowed to file for a Chapter 7 bankruptcy unless: A) at least six years have passed since the Chapter 13 discharge; or B) you paid at least 70 percent of your unsecured claims in the Chapter 13 filing.
If you filed and had debts discharged under a Chapter 13 and want to file another Chapter 13, you must wait at least two years from the date of the original discharge before filing again.

What if I filed for Chapter 7?

If you received a Chapter 7 bankruptcy discharge, then the law says that you must wait at least eight years before filing for a second Chapter 7 bankruptcy. However, debtors would only have to wait four years after their Chapter 7 discharge to file for a Chapter 13.

What if my bankruptcy was dismissed?

If you filed either a Chapter 7 or Chapter 13 bankruptcy case that was dismissed either by the court or due to a voluntary request for dismissal and you never received a discharge of debt then your wait time is cut dramatically. For example, if your bankruptcy case was dismissed then you must only wait 180 days before refilling.

Though there may not be any technical limits on the number of times a person can file for bankruptcy, that does not mean it is a good idea to go through the pain and expense of the process more than is absolutely necessary. If you find yourself needing the services of a Charlotte, North Carolina bankruptcy attorney, please call the skilled lawyers at Arnold & Smith, PLLC today at (704) 370-2828. As professionals who are experienced in the bankruptcy arena, our attorneys will provide you with the best advice for your particular situation.